Lazard Ltd. (LAZ)

Stabilization in Europe, greater cooperation in the U.S. Congress, positive impacts from tapering, and modest economic growth paint a positive picture for rising advisory fee pools in 2014, Susquehanna says.

"We expect industry fees to grow 10%-15% off 2013 levels and believe independent firms will continue to gradually take fee share. We still believe Evercore Partners (EVR) is the most attractive of the three advisory firms. EVR looks to have the most momentum based on recent announced deal trends coming into 2014."

Firm is positive on EVR with a $67 one-year target, and neutral on Greenhill (GHL) and Lazard (LAZ).

Heinz (HNZ) is the only food company that can boast 30+ quarters of organic food growth, director Nelson Peltz tells CNBC, commenting on the acquisition. "I think there are many deals coming," Peltz says noting the negligible cost of money, which he notes explains his stake in Lazard (LAZ). "The M&A market is just getting rolling."

Lazard (LAZ-4.5%) shares stumble after Ticonderoga warns of a slowdown in M&A activity: "Debt concerns in both the U.S. and Europe have the potential to push out an M&A recovery at least six months and possibly more. Even if this proves too aggressive, it appears a new concern is tougher regulation around large mergers."